Permitted Subordinate Liens definition

Permitted Subordinate Liens means Liens covering the Collateral held, respectively, by the landlords of the Premises and Bankers Trust Company, as agent for the Bank Group, which Liens are subordinate to the Liens covering the Collateral held by Lender pursuant to the respective Subordination Agreements.
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Permitted Subordinate Liens means Liens granted to Cherokee Partners pursuant to that certain Pledge Agreement dated as of the date hereof, executed by Pledgor in favor of Cherokee Partners, as the same is in effect on the date hereof, so long as such Liens remain subordinate to the Liens of this Agreement in a manner satisfactory to Pledgee in its sole discretion. [NOTE: THIS DEFINITION AND ALL REFERENCED THERETO IN THIS AGREEMENT APPLY ONLY TO THE EQUITYHOLDERS PLEDGE AGREEMENT EXECUTED BY QUEST ENERGY SERVICE, INC., PRODUCERS SERVICE INCORPORATED, QUEST OIL & GAS CORPORATION, STP CHEROKEE, INC., J-W GAS GATHERING, L.L.C., AND PONDEROSA GAS PIPELINE COMPANY, INC.; ▇LL REFERENCES TO THIS DEFINITION WILL BE DELETED IN EQUITYHOLDERS PLEDGE AGREEMENTS EXECUTED BY OTHER ENTITIES]
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Permitted Subordinate Liens means Liens granted to Cherokee Partners pursuant to that certain Pledge Agreement dated as of the date hereof, executed by Pledgor in favor of Cherokee Partners, as the same is in effect on the date hereof, so long as such Liens remain subordinate to the Liens of this Agreement in a manner satisfactory to Pledgee in its sole discretion.
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More Definitions of Permitted Subordinate Liens

Permitted Subordinate Liens shall have the meaning defined in Section 4.4.
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Related to Permitted Subordinate Liens

  • Permitted Subordinated Debt means any Indebtedness of the Borrower or any Restricted Subsidiary evidenced by the Subordinated Debt Documents or otherwise on terms and (including without limitation subordination provisions) acceptable to the Administrative Agent and the Required Lenders.

  • Permitted Subordinated Indebtedness means Indebtedness incurred after the Closing Date by the Borrower or the Subsidiaries that is (i) subordinated to the Obligations and all other Indebtedness owing from the Borrower or the Subsidiaries to the Lender pursuant to a written subordination agreement satisfactory to the Lender in its sole discretion and (ii) in an amount and on terms approved by the Lender in its sole discretion.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.